MoneyGram teams up with BFC

Manama, February 7, 2012

MoneyGram International has teamed up with Bahrain Financing Company (BFC) to open Red Shop, a dedicated MoneyGram location in the Manama Suq.

The Red Shop is the first BFC branch to house a fully-functioning MoneyGram location, allowing customers to benefit from its convenient cash transfers and expansive global network of agent locations.

It provides customers with the full suite of BFC foreign exchange services and options for exchanging monies into 20 major currencies.

The agreement between BFC and MoneyGram is a first of its kind in the region for both companies and a key development in the two working together to serve the ever-growing international remittance market in Bahrain.

"This highly visible and dedicated location will significantly raise MoneyGram's awareness among the country's migrant population who are transferring funds between Bahrain and India, Pakistan, Bangladesh and the Philippines," said MoneyGram regional director Richard Meredith.

"We will continue to look for new creative ways to make our services more convenient, working with great companies like BFC," he added.

BFC has been part of the Manama Suq community for the last six decades.

The new improved branch allows BFC to continue its commitment to better serve its loyal customers within the community.

"Our agreement with MoneyGram is a key element of our vision to increase our global footprint," said BFC Group chief executive Ebrahim Nonoo.

"Opening a new and larger branch in the Manama Suq with MoneyGram gives our customers more confidence that their money is getting to their families quickly, in addition to giving international customers wider access to BFC and its strong branch network across Bahrain and Kuwait," he added.

"Key to launching our first MoneyGram flagship location in Bahrain is our strong relationship with BFC," said MoneyGram marketing director for Middle East and South Asia Ananth Srivatsa.

"The trust and credibility BFC has built over the years is a perfect match for MoneyGram," he added.-TradeArabia News Service